Unified Trust Company N.A. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,127 shares of the footwear maker’s stock after acquiring an additional 3,161 shares during the period. NIKE makes up approximately 2.0% of Unified Trust Company N.A.’s portfolio, making the stock its 7th biggest position. Unified Trust Company N.A.’s holdings in NIKE were worth $6,663,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NKE. Cable Hill Partners LLC increased its stake in NIKE by 5.9% in the second quarter. Cable Hill Partners LLC now owns 31,777 shares of the footwear maker’s stock valued at $4,909,000 after purchasing an additional 1,765 shares in the last quarter. Colonial River Wealth Management LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at about $228,000. Cambridge Financial Group Inc. boosted its holdings in NIKE by 4.1% in the second quarter. Cambridge Financial Group Inc. now owns 49,235 shares of the footwear maker’s stock worth $7,606,000 after acquiring an additional 1,949 shares in the last quarter. Intellectus Partners LLC grew its stake in NIKE by 3.5% in the second quarter. Intellectus Partners LLC now owns 4,766 shares of the footwear maker’s stock valued at $738,000 after acquiring an additional 162 shares during the period. Finally, Ossiam grew its stake in NIKE by 27,834.7% in the second quarter. Ossiam now owns 182,972 shares of the footwear maker’s stock valued at $30,650,000 after acquiring an additional 182,317 shares during the period. 64.45% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $179.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, September 20th. JPMorgan Chase & Co. set a $192.00 price objective on NIKE in a research note on Friday, September 24th. Wedbush assumed coverage on NIKE in a research note on Monday, October 4th. They issued an “outperform” rating and a $170.00 price objective for the company. UBS Group reissued a “buy” rating and issued a $185.00 price objective on shares of NIKE in a research note on Friday, September 24th. Finally, Morgan Stanley reduced their price objective on NIKE from $221.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $174.94.
NIKE (NYSE:NKE) last issued its earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.04. The firm had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.47 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 4.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Monday, August 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 27th. This represents a $1.10 annualized dividend and a dividend yield of 0.70%. NIKE’s payout ratio is presently 30.90%.
In related news, insider Heidi O’neill sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $160.77, for a total transaction of $2,090,010.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew Campion sold 7,125 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,671 shares of company stock worth $11,230,087. Corporate insiders own 3.70% of the company’s stock.
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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